Banking and financial services leaders across the industry have been implementing projects of all sizes to address the challenges associated with digital transformation, but many have proven slow to show results — and it’s not getting any easier in 2022. Digital transformation progress continues to be elusive for so many due to the varying difficulties standing in the way of secure innovation, including evolving security threats, regulations and properly enabling rapid application innovation within complex app portfolios and development processes.

Even with these many impediments, organizations can still make considerable progress when they focus on improving the right aspects in their digital transformation journey.

Organizations should consider increasing development velocity by integrating app performance, security, and compliance directly into the automation pipeline, helping to minimize developer downtime and optimize performance. They also need to fast track their digital transformation journey with adaptive app solutions that reduce overhead through automation and flexible managed services, which does not lock them into a specific environment.

With the resulting improved customer-centric digital optimizations and increased development velocity, financial services institutions can expect:

 Improved customer experiences

 At the end of the day, your organization’s success depends on happy, engaged customers. To that end, your number one goal (and a major benefit of digital transformation) is exceptionally smooth and innovative mobile and online customer experiences.

You’ll be able to:

• Minimize customer friction by using automated authentication to keep customer experiences seamless, instead of jumping through multiple security hoops
• Prevent costly low-latency instances, which can lead to customer churn, abandonment, and lost revenue

Enhanced security and performance

While innovation is a top priority, it should never come at the cost of security or performance. With the right solutions in place, you won’t have to choose.

You’ll be able to:

• Enable CI/CD ecosystem integrations, automating security and performance policies into your code pipeline to keep things running smoothly and securely across clouds
• Securely manage APIs across any data center or cloud using a simple, fast, and scalable multi-cloud architecture
• Use security stack orchestration to reduce the time, cost, and impact, and downtime of security changes

Accelerated innovation and modernization

By modernizing tools and infrastructure, you’ll not only compete with fintechs, but come out ahead.

You’ll be able to:

• Avoid manually implementing app delivery and security services and accelerate your build environment
• Use automation to deploy and configure security and network infrastructure services
• Prevent shadow IT and promote secure innovation through automated management in containerized environments
• Eliminate the hassles of multi-cloud management by implementing a policy-management strategy that fits your organization and your apps

Successful digital transformation can help banking and financial services organizations compete effectively with fintechs, enabling them to accelerate innovation and app modernization, effectively balance performance and security, and offer customers the positive digital experiences they expect.

Learn how F5 can help support your digital transformation initiatives here.
https://www.f5.com/resources/library/bfsi/digital-transformation

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• Source: https://bankautomationnews.com/allposts/retail/what-a-successful-digital-transformation-journey-for-financial-services-leads-to-in-2022/